Foreign Aid Limitation Act - Prohibits the Secretary of the Treasury from using the Exchange Stabilization Fund to: (1) make a loan or extend credit above $250 million to an entity the majority of which is owned or controlled by one or more foreign persons or foreign governments; (2) extend a loan or credit beyond sixty days to such entity unless the President certifies in writing to certain congressional committees that Federal expenditures involved in the loan or credit are adequately backed by an assured, identified source of repayment; or (3) make a loan or extend credit above $1 billion to such entity without express statutory authorization, unless such loan or credit extension is necessary to address a foreign financial crisis which poses a threat to U.S. interests or the international financial system.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.